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2025-07-31 03:34:46
[Powell's key points at a glance] The economy is on solid footing and inflation is slightly above target; the Fed remains focused on its dual mandate, and indicators suggest a slowdown in economic growth, reflecting a slowdown in consumer spending and continued weakness in housing activity; wage growth has slowed but remains faster than inflation; long-term inflation expectations are within manageable limits; the reasonable baseline is that the impact of tariffs on inflation is transitory; no decision has been made on September policy; it was a good meeting, with dissenters clearly articulating their positions; services inflation is declining while goods inflation is rising; there is still a long way to go to understand the full extent of the tariff impact; inflation is more than halfway back toward the 2% target; dissenters from the July Fed statement will disclose relevant information in the next day or two; when asked whether he intends to remain on the board after his term as chairman ends, Powell said he had no information on that at this time. (Refinitiv)
